Economy in Brief

Sales of new single-family homes during October declined 1.9% (+17.8% y/y) to 563,000 (AR) from 574,000 sales in September, revised from 593,000. Sales of 590,000 had been expected in the Action Economics Forecast Survey. The decline [...]

The Federal Housing Finance Agency's (FHFA) index of U.S. house prices increased 0.6% during September following an unrevised 0.7% August gain. The y/y change remained fairly steady at 6.1%, but three-month growth in prices improved [...]

Initial unemployment insurance claims increased 18,000 (-4.9% y/y) to 251,000 during the week ended November 19 following a fall to 233,000 claims in the week prior, revised from 235,000. It remained the lowest level of claims since [...]

Led by a 12.0% m/m jump in orders for transportation equipment, U.S. durable goods orders surged a much larger-than-expected 4.8% m/m (2.1% y/y) in October. The Action Economics Forecast Survey had looked for a 1.0% m/m increase. And [...]

Sales of existing homes increased 2.0% (5.9% y/y) during October to 5.600 million (AR) after a 3.6% increase to 5.490 million in September, revised up from 5.470 million. The latest level was the highest since February 2007. [...]

Energy product prices were mixed last week. Regular gasoline prices edged down 3 cents per gallon to $2.155 (+2.9% y/y), their lowest level since mid-August. Prices remained down versus a 2014 high of $3.71 per gallon. Haver Analytics [...]

Despite the ongoing weakness in the British pound sterling, U.K. industrial orders are 'losing ground.' However, at -3 the net balance for November is much better than last month's -17 and better than the series 12-month average of [...]

The CFNAI Diffusion Index weakened in October, declining to -0.35 from September's -0.16, according to the Federal Reserve Bank of Chicago. The components of the index all show weakness relative to trend except for the employment [...]